After yesterday’s report about Twitter developing an in-house video client, there’s now some solid evidence that Twitter has invested in developing a video service. AllThingsD has reported that Twitter recently acquired three-person New York City-based video sharing startup Vine.

The same report indicates that the deal was motivated by the acquisition of the team rather than the product itself, although an update by AllThingsD suggests that Vine could remain a standalone service. We reached out to Twitter, but the company declined to comment on the matter.

If you take a look at Vine’s site, you’ll notice the service has yet to launched and is simply taking user signups. But the splash page currently describes it as, “the best way to capture and share video on your iPhone. No editing. No rendering. No post-production. Video has never been this fun.”

Vine could be in its beta testing stage with some early adopters — primarily investors and other entrepreneurs using the service — which gave us a look at how Vine works. It’s apparently focused on short form clips that last just a matter of seconds, but the platform stitches together these short clips into a longer video. It then loops back to the beginning of the clip automatically, kind of like a GIF but with sound.

We did a Google search for site: http://vine.co/v/, which appears to be the site’s root URL for user submissions, and found that vine videos were in fact being indexed by Google with approximately 104 results. We were able to check out the submissions from people like MG Siegler and Vine co-founder Dom Hofmann and David Lee, managing partner of SV Angel.

Whether Vine would continue to exist in its current form or have its technology use to support whatever video service Twitter has up its sleeve remains to be seen. Still, the acquisition absolutely points to the platform’s interest in bringing video in-house.